Due to the continuous increase in the prices of petrol and diesel, the government is under great pressure to cut their prices. To get relief from their increased prices, there is a demand to bring them under the purview of GST. Recently, the Prime Minister and then the Chief Economic Advisor Krishnamurthy Subramaniam also advised to bring it under the purview of GST. Before this, Petroleum Minister Dharmendra Pradhan has also suggested this. However, Finance Minister Nirmala Sitharaman has described it as religious. Now SBI economist Soumikanti Ghosh has said that after being brought under the ambit of GST, the price of petrol and diesel can come to Rs. 68.
Petrol and diesel fall in GST, 0.4% loss to GDP
Saumyakanti Ghosh has said in his assessment that petrol and diesel and the state governments will only incur a revenue loss of one lakh crore rupees which will be 0.4 percent of GDP. This assessment has been done based on the price of crude oil in the international market at $ 60 per barrel and a dollar-rupee exchange rate of 73 rupees per dollar. Both the central and state governments impose their tax on petrol and diesel. States apply VAT on petrol and diesel as per their requirement. The center imposes excise duty. With this, the center's cess is put on it. In some parts of the country, the price of petrol has reached 100 rupees a liter.
Saudi Arabia turned down India's request
Meanwhile, OPEC has ignored India's plea to lift applicable controls on crude oil production. At the same time, there has been an increase in the price of crude oil in the international market. Saudi Arabia has told India that it can use the crude oil it bought at the time when the price of crude oil went down significantly last year. Brent crude oil, which is the most used crude oil, rose nearly one percent to $ 67.44 a barrel on Friday.
Petroleum Minister Dharmendra Pradhan appealed to OPEC countries to reduce the restrictions imposed on production to bring stability in the price of crude oil. He believed that due to the rising crude oil prices in the international market, both the improvement in the economic sector and the demand are having a bad effect.
India's star weightlifter Mirabai Chanu once again brought glory to the country on the world stag
Now BJP will reach beyond 100 in Rajya Sabha, AAP will also get a big advantage
The Bharatiya Janata Party (BJP) and the Aam Aadmi Party (AAP) are going to get benefits in the R
When IPL 2025 was stopped, the Lucknow Super Giants team was relieved that they had all the playe
Sri Lankan trade unions on Wednesday observed a one-day token strike to protest against the gover
The Bharatiya Janata Party (BJP) on Sunday (December 8) once again attacked former Congress Presi
The way father of the nation, Mahatma Gandhi, is respected all over the world, in the same way, N
Jagat Singh, BJP district head of Bharatpur in Rajasthan, has given a controversial statement reg
On Monday, as soon as Delhi was unlocked, the rules and regulations laid down for the prevention
Union Home Minister Amit Shah is on a tour of Jammu and Kashmir today. During this, he will meet
Oppo F19 launched in India, these special features will be available with fast charging support
Chinese smartphone company Oppo has launched its new smartphone Oppo F19 in India. It has been la
